The BIGGEST CAR REPO CRISIS In US History Is Happening RIGHT NOW

The BIGGEST CAR REPO CRISIS In US History Is Happening RIGHT NOW
In this video, we're talking about how the negative equity crisis could destroy the economy. Dealers charged too much and banks allowed too many bad auto loans. Repos are spiking and people are looking for ways to get out of their car loans.
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
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*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices

[@user-uk3iv7bw4l]

You need to interview a bank loan officer & ask them how they justified loaning 125%, 130% or 140% of MSRP.

[@Fresh-tw7ev]

They wouldn’t be employed long after the interview was aired!

[@user-xk4vt9ye8j]

Greed and pressure from corporate management.

[@jeremy4148]

You think banks carry the auto loan? Aren't you cute. As long as you don't default in the month or so it takes to offload the loan on some investor the loan officer is happy. You must have missed the subprime mortgage mess.

[@tonyasmith5437]

It’s tote the note lots

[@saleens330]

Jeremy…Home loans and auto loans are different. Aren’t you cute?!? Weird. Anyways yes home loans get sold off. You can get your home through Regions and 6 months later Wells Fargo is sending you a letter on how they now have your mortgage. I’ve owned/had auto loans on probably 15 vehicles in the past 26 years. Not one taken over by another bank or credit union. Only if I refinanced.

[@siroccowind736]

Once a car owner gets out of the need to keep buying new cars, all these issues are just white noise. Keep an old car in mint condition and avoid all the pain.

[@IronPoorBlood]

Yes, but, all odometers have a "death mark" on them. When the death mark rolls around, the vehicle is economically done. 😮

[@bdcochran01]

I drive a 20 year old car. The performance is like day one, brand new. The paint, upholstery are going. It has road rash. Haven't had a payment in 15 years. I don't worry about trade-in value. I simply donate the cars to charity.

[@itwillrun]

@@bdcochran01 donate them to someone in need. most charites sell donated vehicles to the crusher.

[@jamesm.1467]

I drive a 24 year old Durango with 187k miles on it with the original engine and transmission. I just put $1300 into it a month ago, new water pump, new power steering pump, serpentine belt, thermostat, radiator flush... Pretty soon, this thing will just quit, but until then, it's my daily driver.

[@jtenn73]

90k for any vehicle is insane

[@JohnDo-ntchaknow]

That is getting really close to the costs of me having bought three homes abroad and light renovations.

[@gasdorficmuncher9943]

considering you loose 20k driving the new off the lot after sale ! its insane cuss only 19% americans can aford new car i just think these cost increases are because they lost customers pass the cost to richer folk

[@postskeetclarity]

it's keeping up with inflation.

[@moneygrip4464]

Unless it's making you money.. like a work truck.

[@JohnDo-ntchaknow]

@@moneygrip4464 I own a F250 and trust me, most of the people who buy trucks are damn sure not using them for work. Mine is left over asset from when I sold my company off in 2021 but I would be real hesitant to buy a work truck at these prices. That's a lot of jobs you have to complete and get paid for just to pay off the truck even if above 7k gvw and you can write a chunk off.

[@tombob671]

I am 77 years old. When my dad bought a new car he financed cars for 24 months. About 1960 the 3 year loan became standard. In the 1990s the 48 and 60 months came on line. Now payments are like mortgage payments. This is not manageable. The decline in purchasing power is evident.

[@KrustyKlown]

Loans Beyond 60 months, create negative equity. To me it was shocking that anything beyond 48 months was ever offered. I've never bought a car that I didn't think I couldn't pay off in 4 years... and now I no longer borrow ANY money.

[@tombob671]

@@KrustyKlown me too. I made my last car payment in 1996. Now I pay cash. And if it needs fixing I fix it. I am a Dave Ramsey kind of guy.

[@KrustyKlown]

@@tombob671 DITTO... and I save 1/2 the money I make. Pissing away money is no responsible way to go through life, nor a path to wealth.

[@oilfieldsatdiver8425]

They are doing this on purpose " You will own NOTHING and Like it"

[@oleradiodudea.m.4735]

I remember those days. Gas was 25 cents a gallon too. I feel sorry for our adult kids and grandkids. We are leaving them with our massive government spending debt to pay off and fund our veracious appetite for social security checks and Medicare medical care!

[@ckennedy1973]

This channel convinced me to hold on to my 12 year old car.

[@rexonpadre864]

Its cheaper even if you repair it

[@skidmarkzuckerberg]

Same here. Just did a couple thousand in maintenance and it’s set for another 100k. Been wanting to buy since 2021. Looks like I’ll be waiting another year or two more.

[@DanGilliland-pi4vh]

Exactly ,I have a 2014 Acura mdx with 50k miles ,still looks like brand new ,paid for.with prices, interest rates and low grade build quality. Way cheaper to maintain what you have.were done with car payments, never again

[@thndr_5468]

@@rexonpadre864 not to mention better for the environment

[@GelatoSnipes]

i just bought one! brand new motor and clutch with great service history and 2 previous owners. buying privately will save me thousands of dollars, and years of headaches. AND BEST PART, this car is under warranty. not at a dealership, at a private local shop. Unless they go out of business, I'm set for 5 years. While supporting locals ! YAY

[@azthundercloud]

My wife worked for a credit union. In one month alone they lost 1.5 million. Her agents were just handing out loans without researching the client. She was so stressed out that she retired.

[@gordocarbo]

She saw the dark side and couldnt enjoy it anymore...similar thing after spending yrs in LE. What a let down

[@AndyLights]

Lol she was literally a part of the problem. She got too stressed and decided to retire. Man the entitlement of boomers truly has no limits

[@noniboo1521]

You're not making any sense, ar all.​@AndyLights

[@dr.vonslifeinvesting6485]

Holy crap

[@WealthEngineering]

Why was she stressed? It's not like it was her money. It's her boss's money. I would sleep so good at night...

[@hanselduran]

My friend told me that he was sure he could sell for what he owed on his jeep, $23k. I asked if he was sure and we should check KBB. It turns out the car is worth less than half of what he owes.

[@saeedhossain6099]

@@hanselduran people lived though 2022 thinking they can car hack their way into prosperity.....

[@tdgdbs1]

Jeep's owners are special.

[@BamBam88]

Actually jeeps do hold their value pretty well compared to most vehicles, depending on which trim level your friend purchased. This car market is not normal, so that's why your friend got screwed. Normally, a lower trim level jeep stays around that lower cost.. but a rubicon that is purchased for 44k, usually loses value a lot slower. In a normal car market, that 44k rubicon could be 4-5yrs old, and be going for 37-38k. In that time frame, the car should have been paid off, and if needed, you would be able to sell it and handle a emergency or whatever. In this market... all of this is trash now.

[@joewoodchuck3824]

@@hanselduran No wonder. That's what happens with Chrysler products.

[@ADBLOCKER4YOUTUBE]

Should have bought a Tacoma.

[@rustynut1967]

My truck has 500K miles on it and I'm replacing the engine right now. And I'm a used car dealer. I guess I'm just a cheap old fart. 😄

[@patricknoonan3754]

At least you Don't stink you old fart your the smart one

[@jumperstartful]

it pays.

[@danielsteinberg7698]

😊

[@day1fishing603]

Or just smart

[@aaabestcarsllc]

No you are smart.

[@coloradomountainman8659]

The old carpenter I started working for in 1973 once told me: "A car will keep a poor man poor". How so very true.

[@richardwarren7492]

My Auto shop teacher in 1964 said "Want to stay poor? Buy a car." My parents said if you can't pay cash, don't buy it. I haven't financed car since 1968

[@overbuiltautomotive1299]

lol spoken like a true carpenter

[@Sean2884]

@@richardwarren7492 Did the shop teacher drive a car...?

[@nimrod275]

@@Sean2884 rode a horse to work, teacher was to poor to buy the gas for a car

[@richardwarren7492]

@@Sean2884 A used 1 and - he was at ech any other silly questions?

[@user-rk3ho3lc5q]

If you have to do a 7year loan, you can't afford that vehicle.

[@PatrickAllen-yi9us]

If you can't buy it outright you can't afford the vehicle. You can afford the payments but not the vehicle.

[@donavonmacallister3101]

If thats your mentality, then no one could buy a house.​@PatrickAllen-yi9us

[@gordocarbo]

@@PatrickAllen-yi9us True to a point. When I was financing it was used for work and made more than enough to pay it off early, knew that going in Used my free cash to pump up the value of my biz

[@andyO4you]

I was going to finance at 60 months for 2.5% couple of years ago.. I ask and what's the apr for 7years? They say 3% , I said I take it! Trust at 4% I would have taken 8 years lol. Yes, I can pay cash if I want to.

[@PatrickAllen-yi9us]

@@andyO4you If you had money invested and were making more than 3% then it makes sense to finance. If you didn't have money invested then it makes no sense to finance. Why pay interest if you don't have to? Especially on a depreciating asset.

[@SV-lw8jo]

My rule for buying cars is straightforward: If I can't pay for it in cash or with a pre-approved credit union loan within 36 months, then it's not for me.

[@JimAllen-Persona]

Good rule but make sure the interest rate is reasonable.

[@jumperstartful]

You got to stick to it, but it's what I do. Low mileage camry.

[@pasteriori]

sometimes, like when rates are cheap, in long run it is better to get a loan, than pay in cash, and invest the cash. but in today's market why not.

[@twosons5290]

This looks like the auto industry version of the housing bubble in 2008

[@enfreakez]

They are getting bailed out by us taxpayers again already.

[@billbob4856]

If it would burst it would be really nice. I went from an 01 F-150 to a 2006 Scion. I could buy something far more expensive but I refuse to get shafted by this bubble.

[@MR3DDev]

I lived in 2 countries in south america before coming to the US. I can tell you the reason why car prices here are so high is because how easy it is to get financing.

[@hahamasala]

Good point

[@iaing9028]

I’m in the UK, look at the types of car being sold? Huge expensive luxury cars, the dealers don’t want to sell VW Polo’s or Toyota Yaris’s, they want to sell cars that give them more profit, this is also happening here in the UK, Ford Fiesta & Focus discontinued & they were the best sellers.

[@MR3DDev]

@@iaing9028 The premise seems to be first world countries will always get the higher prices.

[@Den-ml7zg]

@@iaing9028 The US consumer doesnt want these mini cars, been proven time and time again. Im one of those that wouldnt buy one.

[@dampergoldenrod4156]

​@@iaing9028it's the same with housing they want to build 500,000 homes instead of a home that cost $100,000

[@Kjhgr01]

I always do 72-months loans and pay them faster, usually in around 3-4 years. My main reason why I do this is if ever I have a rough month and need to cut costs, I know I can lower my car monthly payments without asking for help.

[@ericjohnson7632]

I'm curious does this affect your interest rate by doing 72 months instead of 60 months?

[@justing6594]

​@@ericjohnson7632the rates usally higher.

[@npolite22]

​@@ericjohnson7632It would be higher no doubt compared to a 3-4 year loan

[@J-P88]

I done the same thing about 10 years ago, 5 year loan repaid in 3, thankfully the contract at the time had no fees for early repayments

[@CassandraY]

That's what I did too! Things went well enough for me so I paid my Subaru off nearly three whole years early.

[@danielkren3958]

So all of these people driving there shinny new pickups are paying $800 a month. That is crazy.

[@ericjohnson7632]

​@@joeyork9891 By national standards but not when it's coming out of your pocket. But yes for trucks some are paying much more than $800 per month.

[@ShimmySha]

@@joeyork9891it really is I’m paying 1,200

[@ericjohnson7632]

@@joeyork9891 I agreed with you when I said they were higher monthly payments.

[@scottieray]

Hey, that is cheap. I see tons of HD Chevy and Ford F250 duallies running around where I live and those are all $80k plus trucks.

[@crlaw75]

I bet they couldn't afford it.

[@Karrpilot]

I have always told people that if you cannot afford to pay off a vehicle in 3 years, you are buying something that you cannot afford in the first place. Nothing worse than having a vehicle out of warranty, making payments, and being faced with a serious repair estimate....

[@sherirottweilersforever7772]

My goal is to have my one year old Lexus RX paid off in 2 years. I’m half done already.

[@jamesrecknor6752]

@@sherirottweilersforever7772 Two year payoff is great

[@sherirottweilersforever7772]

@@jamesrecknor6752 my interest is horrible so it makes me not want to drag it out.

[@crlaw75]

I tell the same thing to others.

[@minniemi9170]

True but everyone needs a car though

[@silverback8183]

Its hard to belive that banks will even loan buyers a $100k to buy a new car or truck!

[@NicholasSisti]

I’ve been car shopping for a commuter for a couple weeks. Dealers have cars priced at double the trade in value with 10 year old tires and do not care. Who tells the dealers that used car prices are falling?! Lol

[@gordocarbo]

Dealers thrive on people who dont do math or like me had hard times, now have crap credit and no choices. Find a 1-2 owner adult owned car with ac those are the best types. FInd local senior (55-up) communities and post on their bulletin boards, ask around. Youll get the best maintained ones out there and usually for short money

[@overbuiltautomotive1299]

well do not buy from a dealer simple

[@PhillipCornwell1974]

That insurance bump hit me. No accidents, no tickets, and last year I saw my payments go from $625 every 6 months to $750.

[@jumperstartful]

Same here. No such thing as a safe driver discount.

[@tomb7942]

My 2008 Mountaineer with 116k miles that has been been paid off for many years is looking really good right now.

[@tonyfair487]

As does my 2011 Town and Country with 260,000 miles

[@antoniocognato5023]

Parts still available for that?

[@tomb7942]

@@antoniocognato5023 The only problem I have ever had is it got hit in a parking lot. I have the Chrome Package and the center chrome piece for the front end is no longer available. I have elected not to get it fixed until I can find a chrome piece.

[@mudpuddle8805]

As I do my thing, I see so many brand new vehicles literally EVERYWHERE! Between the astronomical car price, the high insurance and the crazy registration, the payments are higher than house payments! I have friends with two year old cars and they are trading them in to get the latest and greatest rides. It is worse than crazy, it is self destructive!

[@thatcanada]

See the same thing here; they will complain about the cost of living but will drive $80k vehicles that they trade in every two years. Oh and of course they whine about gas prices, while always selecting the vehicle that gets 20mpg. Don't feel sorry for them one iota either.

[@lauralee5313]

Used car auction prices are still way too high for high mileage 15 year old vehicles. Out of control but when the market crashes You should be able to get a great deal...but not yet

[@richdiana3663]

Brandon is a voice crying out in the auto wilderness.

[@azandy77]

He needs to tone it down.

[@jdev232]

​@@patrickjamieson8969why do you say he sells junk?

[@fringedweller221]

10 years ago I bought a 1999 Explorer XLT for $2500. It's 25 years old now and still running fine. Back then they built things to last. It needs about $500 a year in maintaining, but that beats $800 a month for a new car payment. Got 200k mi on it now.

[@keithfork8663]

You win.

[@lousanto1054]

I bought a 2014 Ford Focus 10 years ago. It still runs great and I hope to have it for a few more years.

[@RonKnowsStuff]

Insurance costs are crazy

[@scottieray]

This is true. I was very surprised that insurance for my Bronco was the same as the Mustang GT I traded in.

[@MrBlacxkcobra]

THAT PART 😎😎

[@RonKnowsStuff]

@@scottieray wow

[@scottieray]

@@RonKnowsStuff It is a 2-door First Edition. Maybe that is why.

[@RonKnowsStuff]

@@scottieray still - I had a mustang 5.0 back in the late 80s and if I wasn’t speeding, I wasn’t in the car! It was a blast but I was dangerous looking back

[@johnrodriguez2013]

never car payment. that money goes straight to my investment accounts. grow not show :)

[@user-bm6wu9zw9m]

I drive a basic ford fusion, haven’t had a car payment in years. But my stock portfolio and 401k are looking nice.

[@CMBBmc-jd6ur]

In the meantime I’d try to live a little. Like, treat yourself.

[@mikebrennan7045]

I’ve been watching your videos, and honestly it’s crazy because after the housing crisis in 09 they put new Regulations in place to stop a second housing collapse. But someone said to me “they didn’t fix car loans. that’s next because the banks can’t help themselves.” And god damn almost 15 years later and here we are.

[@BobFromPineCreek]

It's a funny and very creative way to create a wealth transfer mechanism. Genius idea!

[@yourmom10269]

criminal capitalism at its best

[@SmokeNGunsBBQ]

"You will own nothing and be happy".. people need to wake up...

[@revmansolution]

Usury has been around for 1000s of years.

[@danithaman4610]

Waiting for them to drop more to buy an old tundra

[@gregiles908]

Dealerships hyper focussed on fake repairs and overcharging.

[@jumperstartful]

always tried to get used cars that I could work on . VW Bugs.

[@MrStrocube]

I paid $5,500 cash for my 2007 Honda Civic. It had 90k miles on it when I bought it. It’s just now approaching 120k. As long as I continue to maintain it, the car will easily go 300k with no major issues. I love not having a car payment. Only have liability insurance that I pay around $50 per month. It also has a manual 5 speed transmission, so it’s pretty much theft proof. I love my little Honda.

[@thetequilaprofessor]

My daughter has been waiting for 2 years in Tennessee to buy a good used cars. We have seen zero drops in prices.

[@Ashland41101]

People love living beyond their means. That’s what’s wrong

[@waltertaffs1737]

It's also on buying a house that people can't afford

[@joewoodchuck3824]

Banks giving loans on overpriced vehicles and under qualified buyers too. The lenders seem all too willing to lose money though.

[@bamahama707]

@@joewoodchuck3824 Wonder why that is??

[@SharperPenImageConsulting]

That’s the American system and way of life. The country and state are largely poor/broke. But the money is somewhere. And everyone is conditioned in factory modeled schools to “produce and climb.” You wouldn’t even be here to say this if it wasn’t this way. Yet. Where’d the jobs go? Where’d the leadership go? Where’d the production go?

[@joewoodchuck3824]

@@waltertaffs1737 I don't know if they still do that or not. That was part of the cause for the bubble crash ~16 years ago with sub prime rates and over valued homes. We don't have those rates now, and lenders are being more picky about buyers. I don't know what the housing market is elsewhere, but I think whatever those situations are vary regionally. I'm in a rather high demand market here in East Tennessee. I know it's even hotter in Connecticut.

[@patrickmichael8655]

50 grand for a truck that’s crazy

[@charlesjackson1700]

That's more of a lower price these days for a full size..

[@6eight9]

Lmao there's my guy (50 k for a truck is crazy) 🎉🎉😂😂😂

[@gasdorficmuncher9943]

cost 14 used rusty trucks for one new one?

[@bruceleeharrison9284]

Where can I find this mythical $50k truck

[@lennomenno]

@@bruceleeharrison9284 In 2007.

[@SamBalducci]

Holy cow, after the 09-housing crash I purchased my house for $126,600 on foreclosure -- the same price as the sticker on that Jeep. The two cars I have in my driveway combined are worth only 20K, but you are showing cars for $75K. When does that stop? Crazy that people are so willing to get into so much debt on a car.

[@hochhaul]

Okay but what would your house be today if you sold it. You can't compare prices of things back in 2009 to things today. Even comparing prices form 2019 to today can be misleading due to the rough "transitory" inflation we've dealt with in the past few years.

[@jgomez9077]

I'm glad I still drive my 2002 Toyota Sequoia 😊. Till this day .

[@jumperstartful]

2004 camry with 131,000 miles!!

[@dmo848]

So many are getting into accidents and fleaing the scene cause they have no insurance. Happened to my sister jus last month. Left the whole car and all and jus ran. The girl was caught and was trying to run back to Mexico no bs. Had a whole person's id an all. Full social and everything a normal person would have. But it all wasn't hers. Crazy world we living in. Florida Central this was in. Oh the Mexican girl was going to nursing school with my sister apparently also. So she had a grant issued. Like how in the world did this girl pull that all off. There's gotta be more to this than i would ever know but damn. Ain't that crazy

[@VF1Skullangel]

I remember when a payment of over a $1000 a month would bring you a Ferrari. This is LAUGHABLE!!!!! Ill stick with those cheap lots like yours when its time to buy a new car. If I'm gonna spend big bucks on a car it's gonna be an exotic.

[@jerryinmon2731]

While I generally agree with your comments people always remember how little things cost back whenever but never remember how little people where actually paid back then.

[@rtz549]

@@jerryinmon2731$4/hr not much different then $6/hr.

[@oleksandrshyiatyi6826]

In 2017 I remember new rav4 was around 450-500 cad monthly payment ....in 2022 same amount but bi-weekly 😂

[@jdev232]

​@@jerryinmon2731right! When I was a 12 or so, the countach came out...I think it was 125k. Mind blowing car and price. Made a porsche 911 at 55k seem "attainable" 🤣🤣🤣🤣

[@saintserg9571]

Yes! I agree with you.

[@tonyfair487]

My wife and I just paid the most we have ever paid for a vehicle- $15,000. Before that it was $12,000 for a vehicle we still own 8 years later.

[@aguilacahc000]

Trucks are sooooo expensive I want a small pickup for $20K 😭

[@slappy8941]

We aren't allowed to have small trucks anymore.

[@richarda996]

thank the EPA.

[@rosewildbill6368]

The "Toyota Stout" is for you

[@jumperstartful]

I took the back seat out of my camry. The only truck I can afford.

[@Mikey-wf9py]

Yes I took an major L when I bought truck 3 years ago at first it was okay I didn't mind.... When it started becoming unreliable I was like it ain't worth this money... The old ones are way better

[@drscopeify]

People who bought cars in 2020-2022 got pretty good rates so even if they have lost value on their car the lower rate they are still paying now is still a freaking good deal. My friend lost on paper $7000 in value more than it was projected to but his rate he is locked in is 0% rate so yeah.... Hes not upset at all.

[@SA-rs5pl]

The consumer has partly to blame. Worked for years in the automotive industry and I’ve told dozens upon dozens of customers that they have “champagne tastes on a beer budget.” The “get me dones” are the most stubborn. I’ve broken down the math while telling the buyer that if you take $60K divided into 60 months even without interest, the payment is $1,000+ a month. Meanwhile, he and his spouse are making $50K/yr jointly! By some chance we do a get a few approvals. The only thing we say is that it’s a “repo waiting to happen!” And the dealership once paid by the lender on a non-recourse contract keeps the wheels churning. Honestly, I don’t miss those dealership days.

[@naturalselfyoga1617]

Bought a pristine 2010 sienna in Cary, NC for 4100 Friday. I'm pretty excited about it. It's like new.

[@ZAPATTUBE]

It was in that flood!

[@Joselopez-xo7fg]

Having a car payment is crazy lol

[@hochhaul]

Eh, $500/month for a new truck that'll be paid off before the warranty is even up. I love it.

[@alienhead1184]

I just think a car that’s over 10 years old shouldn’t be over 10k ..

[@jbarkley4938653]

It all depends. I have a 2015 Honda Accord and the re-sell value is around $13k.

[@kenik2023]

You are correct. They seriously need to stop overpricing and overcharging.

[@kenik2023]

​@jbarkley4938653 I'm old enough to remember an 8 9 or 10 yr old Honda was sub 10k. They are not as bulletproof as you believe.

[@alienhead1184]

@@jbarkley4938653 which is why I think is still overvalued since I can get a brand new one for around 27-29k.. from what I heard ohh csrs lose 30% of the value as soon as u drive it off the lot that’s no where near true anymore

[@dvaritek434]

Really should depend on mileage, maintenance records, and make and model

[@ne2448]

Go through the credit union for the auto loan

[@Ring0--]

Don't consider Ram trucks the typical consumer. They aren't.

[@toddsellars4694]

Not in the DC area bro. Not many repos going on. And car dealers are STILL ripping people off left and right.

[@Mittenpaw]

This dude just convinced me to keep my 2014 F-150 Ecoboosted Twin Turbo ($559) per month Second Owner 185k miles.

[@Acc0rd79]

We cruise a lot and I asked one guy I ran into that does 15 cruises a year how the heck does he do it? Is he a millionaire?? He said he still lives in the first home he ever bought and it was paid off over 20 years, he said he still drives a 2008 Honda Accord and has no need to get another car as that one runs just fine. He said don't keep buying new cars and homes and you will stack cash so fast! We have zero car debt and are dumping money on our home every month instead to get rid of that by 45! You can sure stack cash when you don't have any bills besides utilities/food.

[@tonyrappa4611]

Sky High car prices and Sky High Insurance and if you live in California you're paying $6 a gallon

[@halslusher6030]

Good news no car payment and no way in hell I borrow to buy another car. EV is crap

[@aznexile602]

The real question is why people living paycheck to paycheck are buying cars they cant afford. My rule of thumb is dont but a car you cant or dont feel comfortable paying in cash.

[@allenpardon8211]

The dealers caused the negative equity

[@jwill540]

No, the banks did.

[@222aint]

No the customer who bought the vehicle with ridiculous prices. Financial illiteracy is expensive.

[@abrahammc2125]

@@jwill540 Most dealerships have their own financing. You think they dont have 3-4 million to lend out?

[@jerryinmon2731]

@@222aint I think you meant to say the idiots that bought these over price vehicles are responsible but maybe your just more polite than I am. But either way you are 100% correct!!!!!!

[@justing6594]

No the buyers did!

[@danc9440]

DMV will repo your license plates (tags) if you don't maintain your insurance, in addition to the Bank/Finance Co "force placing" Insurance on your loan -increasing your payment.

[@eldoradoboy]

apparently not every state enforces insurance laws.. i think a couple states dont even have it... in ohio where i live.. they can send you a letter in the mail that you must show you have insurance active on the date the letter was sent... I have received one of those in the 34 years that rule has been in effect.. the banks though they check often. i dont know of any bank that doesnt require full coverage ...

[@jumperstartful]

Are all these Illegals going to get auto insurance???If they get pulled over and are asked for reg. and proof of insurance are the cops going to tow the car?

[@danc9440]

@@jumperstartful - I am worried about anyone who doesn't have proper insurance; legal, illegal, or from another country and/or world......... I would say anyone without Insurance should have their vehicle impounded on the spot and not released without confirmation of ample coverage. I don't mean not having a card/certificate but if DMV doesn't have it on their official records, the vehicle shouldn't be on the road!

[@eldoradoboy]

@@jumperstartful I know in ohio, no insurance is simply a licenbse suspension the first time caught.. and ironically i think being caught wit ha NoOps is essentially being suspended longer...... doesnt make much sense..

[@sunking2001]

Wow...just like a home mortgage. If you DO have a mortgage...you MUST have satisfactory home insurance. If not...foreclosure is looming and lurking.

[@rawlandspencer9945]

The auto makers should have never been bailed out PERIOD!

[@Kevin19700]

This is one of your best vids yet. And I always enjoy watching your “words are hard” at end😂

[@jordez1]

Does the federal government have something to do with this situation that we are seeing right now? Are they getting their piece of the pie? Greeting from Spain😊

[@number1yota]

I got a buddy that financed a Dodge chassis cab 5500 with a 108 month loan. That's 9 years. 9 years on a hotshot truck. he'll be lucky if its still on the road in 9 years.

[@chrisneumann4202]

The ONLY upside for that is if he runs a business he can probably write off some of the payments, fuel, and insurance and if it's a chassis cab that means (hopefully) he's making money with it.

[@oldtrailertrash4969]

Come on!! Car Equity is a Oxymoron!

[@dvaritek434]

Cars depreciate, sure. Most cars anyway. But if you do buy any car you want to have positive equity in it in case you need to bail on the loan.

[@sachawisznia9685]

At those prices, you have to LIVE in those cars/trucks just to financially survive!

[@jamescaldwell2685]

I only paid 80k for my house with 2 acres property and a 30 x 30 garage

[@user-bm6wu9zw9m]

Smart move

[@happykt]

I haven't had any speeding or car accident tickets in over 20 yrs but my insurance company is charging me $1,200 for my 13 yr old Honda Civic, which is mostly just for liability and medical, not to cover the cost of my car if its damaged. The business of America has always been to make money off of others, which is why we are in this situation with skyrocketing food, housing, car and health insurance. Our evil corporate overlords and monied elites are screwing us over and putting us in penury.

[@j.durand]

Your definitely being shadow banned my guy. Can't tell you how many times I've had to resubscribe to your channels.

[@14albumsuperbia88]

I have a 21 Tacoma, trade in is about what I owe on it. If you play the equity game, you can leverage yourself into better & better cars. I’m planning to use positive equity to get me into a C7 ZO6 corvette

[@lilmsgs]

And not a word about the fact that you can buy a brand new Toyota Corolla for $22,795+. And that will last people 20 years if they take care of it. You buy a good car you can afford and forget about buying something sexy and fun and rent/borrow a pickup when you need one. The only story you're talking about is people who are irresponsible with money.

[@alienhead1184]

@@lilmsgs which makes no sense to why someone would buy a 10 year old corolla for 15k..

[@kenik2023]

Toyotas big attraction is that they are cheap.

[@abrahammc2125]

That new Corolla costs about 29k in the bay area. Markups exist

[@dforrest4503]

A Corolla is fine for some, but very little rear seat space or luggage space if you have a family. I’d go for a Sentra, and be very good about maintenance.

[@lilmsgs]

@@alienhead1184 There are many used Corollas near me (phoenix az)... 2018 $13,600 asking price. etc Plus, used car pricing are continuing to fall as we phase out of this transitional period.

[@Dadsworld_]

I bought a 2015 ford fusion for $6500 with 120k on it. It gets me back and forth to work, is nice, I owe no money and just buy another one of similar price and mileage when this one gives up the ghost.

[@greganderson1989]

@joebiden said we have the best economy in the world!

[@jerryinmon2731]

compared to much of the rest of the world we are doing fairly well. that's not saying much though since most of the rest of the world is doing far worse than we are at the moment.

[@tvvodman1429]

Wait til trump puts his 10% tariff on everything.. then see how the economy is..

[@bradzcustoms]

My auto insurance is 3k a year

[@williamcarter7655]

You’re not alone….

[@thebastardgift]

Periodically I call my car insurance, tell them I have intentions of changing companies, and then go over ways to bring down the cost and so far I have kept the cost down to 1, 100.00 a year.

[@justme-27]

1991 toyota p/u....42.00 a month....1985 toyota pickup 4x4 ...36.00 a month 1986 toyota 4x4 ...39.00 a month......117.00 a month for insurance...for all 3. 1300.00 a year if paid once a year (thats how I do it)....oh.....no car payments either....classic toyota 4x4's are worth about 15,000 and 25,000 (for the 85) and the 91 is about 7,000.....all quite nice....all paid for. I have no bills 11 months of the year.

[@Nmdixon-cu7vm]

@@justme-27cheap insurance for 40 year old cars? Color me shocked.

[@thebastardgift]

@@justme-27 SOME people some will not believe you but it can be done.🏆

[@roymoxley2587]

Come to Thailand Repos are at a all time high motorcycles and cars

[@butchthurman4685]

I'm going for 500k miles on my 97 f150. I have 307k miles to go.

[@gmachlin]

Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth!!!

[@WinniAltieri]

Many new tra-ders struggle without proper guidance. I found success through James Clark's expertise.

[@OthelloTheiss]

James Clark's market insights have consistently led to profitable decisions.

[@seanhibbeler]

I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?

[@isttaattat]

Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.

[@gusforrester]

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

[@tomjones2348]

Thanks for taking us into that repo auction! Wow. This really gives perspective on car values.

[@dell7054]

IN AMERICa why the fuc they need a new car every year... crazy

[@KryptAKOO]

we need more auction videos. exactly what I was looking for n you showed it. thank you

[@livefreevinnie]

My car payment and mortgage payments are combined into a Class B RV for $1,050 / month. I saved $3K per year by living in a Class B van.

[@JJacobs803]

I remember I called my car loan place n I said it's either pay yall or pay the insurance they yelled PAY THE INSURANCE FIRST .... learned that almost 10yrs ago

[@tonyrappa4611]

The same person who gets their car repoed is the same person who tailgates when he drives that's why he's got so many dents

[@adog8123]

Someone's gotta buy the base model Dodge from the person that bought it new...

[@jumperstartful]

if he hits you who is going to pay?

[@drozzmojenkins9605]

I can’t wrap my mind around anyone paying over msrp for a vehicle. Ever.

[@woodolphlorfils4299]

Seen atleast 10 repo truck today

[@jumperstartful]

In the 70's I used to repo cars at night and drive for UPS during the day. One night we grabbed a new red Cadillac convertible. Next day I'm delivering a package to one of the businesses on my route and the owner was on the phone yelling at someone. I asked the secretary what was going on. She told me that his Cadillac was repoed last night and he was on the phone to the credit union raising hell. Then it hit me!! oooops.

[@ejayagnes]

Learned my lesson when my truck got repossessed. Never getting a new truck again till I’m for sure financial stable for it

[@mikemiller9717]

Love your videos but you don’t have to yell at me. Again thank you for your channel.

[@jordanbressler728]

He should whisper the message

[@maeverobertson1108]

He's just passionate about customers and just people in general who have gone in over their heads. It seems like a very compassionate man

[@jerryinmon2731]

@@maeverobertson1108 I think you hit the nail on the head. If you watch enough of his videos, you will realize he really is trying to help people. All you younger millennials and gen Zers out there ought to listen to him and follow how he and his wife live their financial life. It will help you in the long run.

[@neiljuedes1661]

I love that when I want to or need to buy a new vehicle I can sit down with my financial Credit Union person and go over what I can afford. That’s smart money management !

[@red5555]

Very interesting and informative.

[@thomaslangton3464]

Brandon, another awesome insight / video!....keep up the great work!

[@Patching4Health]

Most don't need these stupid big trucks that they don't know how to park or drive.

[@kenneth9874]

Many do need a truck and do both better than you.

[@anye76]

I have an 07 Toyota with 320K miles. Going in today for a tune up. She busted looking, no bells & whistles, manual windows and she rolls & I'll keep her!

[@benscott6826]

Self inflicted crisis

[@gasdorficmuncher9943]

aftermath of covid stimi checks

[@jamesrecknor6752]

How could I say no, when the dealer said "Our air in the tires fee is only $99, and we can get financing for anyone, even YOU!"

[@minibeefcake]

That’s nuts. $1000/month that’s like a house payment

[@crneube]

120/Month car loans coming in 2030

[@JimAllen-Persona]

My daughter bought a 2021 pre-owned HRV for $21K with about 20k miles on it. Financed $10k for 3 years at $300/mo 4.99% Only thing that takes the sting out a bit is that it was fully loaded and I pushed her into the factory warranty which turned to be a good thing as it had a problem 6 months later. Granted, it might’ve been covered by the pre-owned warranty. Had it been new, I would’ve passed on the factory warranty but the way they build cars these days the factory warranty is starting to make sense. She’ll have it paid off early.. she lives at home and dumping every dime into paying it off early. But these dealers suck too… while she was in getting it fixed she decided it was close enough for an oil change.. of which 2 were free because it was pre-owned. I go to the cashier with her to check out… they had the nerve to charge us for the oil change. When I questioned it, she said “only if the usage indicates 20% life left”. I’m like.. the guy that sold us the car never mentioned that. Pointed us to the service advisor that took it off the bill immediately. Amazing.

[@johnpro2847]

my 26 yo GM auto is out of date and out of debt..

[@davidbeppler3032]

How safe is it? If someone hits you at 30mph will you be fine? I was hit at 85mph, I was doing about 60 at the time. 2022 Tesla Model 3. I was not even sore the next day. Guy tried to park his car in my lap.

[@capsulate8642]

@@davidbeppler3032 Yes, most cars can survive side swipes at high speeds lol

[@tomflinn9815]

I drive a 16 year old pickup. It is paid for and has very low miles for its age. Would I like something newer? Yes. But I refuse to pay what dealers are asking. Used vehicles that are much newer are priced at 3 times what I paid for mine 9 years ago and have at least twice as many miles on them. So, I just sunk $3800 into my old pickup to keep it in mechanically good condition. It not that I can't afford to trade up. I choose not to.

[@johnnyonthespot2498]

thank you uncle joe , you did a great job build back better

[@Lonewolfe80]

I'm in the market for a vehicle, and I've walked out of 3 dealerships once i see the msrp and markups.

[@danielfenmore2712]

Suburban dads should stop buying $90k trucks to haul their kids to soccer practice. Nobody thinks you're cool.

[@MikeF-op4gs]

We just voluntarily gave back our jeep cherokee to the finance company after it breaking down again ! Couldnt afford the repairs plus doing the payments and of course the warranty was up!! On a fixed income and since starting the payments three years ago during covid our rent has gone up almost 400 dollars!! The only good thing out of all of this is we only put down 200 dollars so we basically rented it for three years!!!

[@billfischer9887]

Learn live within your means. If we quit buying 100k trucks, the priced will come down. Lower demand means lower prices. If you quit playing stupid games, you will quit winning stupid prizes!!!!

[@jameskeeler6321]

I see a lot of South Americans driving new cars, ones which I could not afford. Now it makes sense. They work at taco bell and live in an apartment with twenty other people, but they still drive a 2024 Toyota Tacoma etc.